The Ultimate Guide to Silver Dollars (Morgan & Peace)
Morgan vs. Peace Dollars. Which one is better for stacking? A complete guide to the two kings of American silver.
If you hold a Silver Dollar, you are holding the weight of American history.
These aren't just coins. They are the currency of the Wild West. They were slapped on saloon counters in Tombstone, bet in poker games in Deadwood, and hoarded in bank vaults for decades.
There are two main types you need to know: The Morgan and the Peace.
The King: Morgan Silver Dollar (1878-1921)
Named after its designer, George T. Morgan, this is the most popular coin in numismatic history.
- Design: Lady Liberty wearing a Phrygian cap (symbol of freedom) and a wheat/cotton crown (agriculture).
- Why Buy: They have the highest appreciation potential. A common date Morgan in high grade (MS63+) creates a "wow" factor that bullion cannot match.
- Fun Fact: In 1918, due to the Pittman Act, the US government melted 270 million Morgan Dollars for the war effort. That’s why they are rare today.
Get the Morgan Dollar Price Guide
Don't overpay. Download my cheat sheet of 'Buy Prices' for every year.
The Peacemaker: Peace Silver Dollar (1921-1935)
Created to celebrate the end of World War I.
- Design: A younger, more modern Liberty with a radiant crown (resembling the Statue of Liberty). The reverse features an Eagle perched on a rock inscribed with "PEACE".
- Why Buy: They are generally cheaper than Morgans. If you want to stack 0.77 oz of silver for a lower premium, buy Peace dollars.
- Vibe: Art Deco, roaring 20s, optimism.
Which One Should You Stack?
| Feature | Morgan Dollar | Peace Dollar | | :--- | :--- | :--- | | Silver Content | 0.7734 oz | 0.7734 oz | | Premium | High | Moderate | | Liquidity | Extreme (Easy to sell) | High | | Best For | Collectors & Investors | Stackers on a Budget |
What is a "Cull" Dollar?
You will often see us selling "Cull" dollars. These are coins that are worn, scratched, or cleaned.
- Why buy Culls? They are the cheapest way to own US Silver Dollars. You pay for the metal, not the beauty.
Alert: When Culls Go on Sale
I drop a batch of Cull Dollars at near-melt prices once a month.
Conclusion
You don't have to choose. A healthy stack has both.
- Morgans for the history and potential profit.
- Peace dollars for the bulk silver weight.
Start your stack today.
Frequently Asked Questions
What is the silver content of a Morgan Dollar?
Every Morgan and Peace Dollar contains exactly 0.7734 troy ounces of pure silver (90% purity).
Why are Morgan Dollars so expensive?
Morgans are the most collected coin in the world. Their value comes from history, scarcity (many were melted), and high demand, not just silver weight.
What year Morgan Dollar is the most valuable?
Key dates like the 1893-S, 1889-CC, and 1895 (Proof) can be worth $100,000+. Common dates are worth $30-$60.